Jefferies Financial Group Inc. Sells 2,496,956 Shares of Microchip Technology Incorporated $MCHP

Jefferies Financial Group Inc. trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 99.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,244 shares of the semiconductor company’s stock after selling 2,496,956 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Microchip Technology were worth $653,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wolverine Asset Management LLC raised its holdings in shares of Microchip Technology by 3,833.7% in the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock valued at $2,416,000 after buying an additional 36,957 shares during the last quarter. Vanguard Group Inc. raised its holdings in Microchip Technology by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock worth $4,628,692,000 after purchasing an additional 1,507,554 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new stake in Microchip Technology during the 4th quarter worth about $6,691,000. Natixis Advisors LLC raised its holdings in Microchip Technology by 18.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock worth $79,184,000 after purchasing an additional 194,048 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Microchip Technology by 13.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company’s stock worth $13,447,000 after purchasing an additional 24,963 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Truist Financial boosted their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Needham & Company LLC boosted their price objective on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.52.

Insider Buying and Selling

In other news, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the completion of the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 548,302 shares of company stock valued at $49,186,035 over the last 90 days. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $94.65 on Friday. The firm has a market capitalization of $51.31 billion, a P/E ratio of 450.74, a PEG ratio of 1.01 and a beta of 1.75. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The business has a 50-day moving average of $82.04 and a 200-day moving average of $72.80. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s payout ratio is presently 866.67%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.